Jul 6, 2023
Under Armour announces a series of executive changes.
With the company's business transformation, the American sporting goods company Under Armour announced a series of executive changes.
COO Colin Browne will step down this fall "to pursue other opportunities". Browne joined Under Armour in 2016 and will serve as interim CEO from June 2022 until February 2023.
Lisa Collier, Under Armour's chief product officer, will also leave the company in August, and her position will be temporarily taken over by Dan Leraris, head of apparel, until a new successor is found.
Under Armour also named Jim Dausch, executive vice president and chief consumer officer, effective next month. Dausch is currently Marriott's global chief product and digital officer. Under Armour's current CEO, Stephanie Linnartz, also worked at the company for 25 years, and became the company's first female CEO in February this year.
Danny Miles will be promoted to executive vice president and chief technology officer.
This change was decided after Under Armour launched a business reform plan through the Protect This House 3 (PTH 3) plan. This strategy will focus on brand DNA revival, key products, and North American business growth.
As part of the plan, Under Armour also cut 50 jobs to boost profitability by reducing expenses.
In its most recent quarterly report in May, Under Armour said revenue rose 7.5% from $1.3 billion to $1.4 billion, and it expects net sales to be flat or slightly up in the company's fiscal 2024, compared with analysts' expectations. It was an increase of 3.7%.